IOU Financial launches 24-month term loan
IOU continues to deliver on its promise of product innovation to meet the financing needs of small business owners
ATLANTA, Dec 3 2021 / PRNewswire / – FINANCIÃRE IOU INC. (“IOU” or “the Company”) (TSXV: IOU), a leading online small business lender (IOUFinancial.com), today announced the launch of a new 24-month term for loan amounts between US $ 300,000 and US $ 600,000.
âIOU Financial is committed to product innovation, and the 24-month term loan is designed to provide our broker network partners with an expanded suite of tools to meet the growing needs of small business owners across the country. ‘nationwide’, said Robert gloer, President and CEO.
Today’s news follows IOUs introduction of the industry’s first cash loan announced on August 4, 2021, a unique term loan product for small businesses that encourages and rewards a perfect payment history with a cash reward of 3% of the original loan amount. November 2, 2021, IOU announced that it exceeded US $ 1 billion total loan origination and set an all-time high for quarterly loan origination.
âProduct innovation is a pillar of IOU Financial’s post-pandemic growth plan,â added Gloer. “Small business owners also have plans for growth, and getting a 24-month term loan funded within 24 hours can be a powerful tool for them to take advantage of the continued economic recovery.”
The IOU 24 Month Term Loan is available to businesses that have been in business for at least 7 years and rewards those with a high credit rating. Available only to qualified new customers and repeat customers, the 24 Month Term Loan is designed to provide small business owners the convenience of lower payments over longer terms with weekly and bi-weekly payment options, giving them access capital to invest in the growth of their business. This new product provides IOU’s broker partners with an expanded range of options to meet the growing needs of traders in the context of the continuing economic recovery.
Partners in the IOU broker network can find out if their clients are eligible for the 24-month term loan by contacting their IOU financial account manager. Traders can find a broker and independent brokers can apply to join the IOU Financial broker network, by visiting www.IOUFinancial.com.
About IOU Financial Inc.
IOU Financial Inc. is a wholesale lender that provides quick and easy access to growth capital for small businesses through a network of preferred brokers across the United States and Canada. Built on its proprietary IOU360 technology platform that connects underwriters, traders and brokers in real time, IOU Financial has become a trusted alternative to banks by providing over US $ 1 billion in loans to finance small business growth. companies since 2009. IOU trades on the TSX Venture Exchange. under the symbol IOU (TSXV: IOU), and on the US OTC markets under the name IOUFF. To learn more about the history of the IOU Financial company, financial products or to join our broker network, please visit www.IOUFinancial.com.
Certain information contained in this press release may contain forward-looking statements. Forward-looking statements are statements, other than statements of historical fact, that deal with or discuss activities, events or developments that IOU expects or anticipates might occur in the future. These forward-looking statements can be identified by the use of words and phrases such as “anticipates”, “believes”, “believes”, “expects”, “may”, “anticipates”, “plans”, ” should “,” will “,” intends “,” seeks “,” allows “,” creates a path for “,” enables “or the negative of this or other variations of it -this. These forward-looking statements are subject to and involve substantial known and unknown risks and uncertainties, some of which are beyond the control of IOU, including, but not limited to, the impact of general economic conditions, trading conditions. industry, dependence on regulators and shareholders. approvals, the execution of the final documentation, the uncertainty of obtaining additional financing, the risks related to the inability of the Company to execute its business plan, the dependence on third-party service providers, competition, dependence on key personnel, security and privacy risk, technological development risks, computer disruptions, maintenance of customer relationships and litigation risks. No assurance can be given that any of the events anticipated by these statements will occur or, if they do, what benefit IOU will derive from them. Readers are cautioned that the assumptions used in preparing this information, while believed to be reasonable at the time of preparation, may prove to be imprecise and, as such, forward-looking statements should not be relied on unduly. IOU assumes no obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise. Additional information regarding these and other factors can be found starting on page 18 under the heading âRisks and Uncertaintiesâ in IOU’s MD&A dated November 18, 2021, which is available under the IOU profile on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Financial IOU Inc.